NAVEEN RAO'S NEW AI HARDWARE STARTUP TARGETS $5B VALUATION WITH BACKING FROM A16Z, SOURCES SAY

Summary from the TLDR Founders newsletter

Naveen Rao's new startup, Unconventional, Inc., aims to raise $1 billion at a $5 billion valuation to develop a novel computer system with brain-like efficiency. Andreessen Horowitz, Lightspeed, Lux Capital, and Databricks are backing the venture, which plans to compete with Nvidia by designing custom AI hardware. Rao, a former AI leader at Databricks, has a successful track record with previous startups like MosaicML and Nervana Systems.